steve blank moneyball and evidence-based entreprenuership
TRANSCRIPT
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Moneyball
Evidence-Based Entrepreneurship&
Investment Readiness Levels
Steve Blankwww.steveblank.com @sgblank
Watch the Video :http://www.youtube.com/watch?v=zjvEanpktEo
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Lean Startup
Watch the Video :http://www.youtube.com/watch?v=zjvEanpktEo
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Lean Startup
Business Model Canvas
Watch the Video :http://www.youtube.com/watch?v=zjvEanpktEo
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Lean Startup
Business Model Canvas
Customer Development+
Watch the Video :http://www.youtube.com/watch?v=zjvEanpktEo
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Lean Startup
Business Model Canvas
Customer Development Agile Engineering+ +
Watch the Video :http://www.youtube.com/watch?v=zjvEanpktEo
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Lean Startup
Business Model Canvas
Customer Development Agile Engineering+ +
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Lean Startup
Business Model Canvas
Customer Development Agile Engineering+ +
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Lean Startup
Business Model Canvas
Customer Development Agile Engineering+ +
Evidence-based Curriculum (NSF I-Corps/Lean LaunchPad)
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Lean Startup
Business Model Canvas
Customer Development Agile Engineering+ +
Evidence-based Curriculum (NSF I-Corps/Lean LaunchPad)
Hypotheses
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Lean Startup
Business Model Canvas
Customer Development Agile Engineering+ +
Evidence-based Curriculum (NSF I-Corps/Lean LaunchPad)
Hypotheses Experiments
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Lean Startup
Business Model Canvas
Customer Development Agile Engineering+ +
Evidence-based Curriculum (NSF I-Corps/Lean LaunchPad)
Hypotheses Experiments Data
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Lean Startup
Business Model Canvas
Customer Development Agile Engineering+ +
Evidence-based Curriculum (NSF I-Corps/Lean LaunchPad)
Hypotheses Experiments Data
Mentors
Watch the Video :http://www.youtube.com/watch?v=zjvEanpktEo
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2,200 Teams Worldwide
• NSF Innovation-Corps
• 44 Universities Worldwide
• 30 Accelerators/Incubators
• Fortune 500 Companies
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Training 300 Educators/Year
• Lean LaunchPad Educators Seminar• Lean LaunchPad Incubator/Accelerator Seminar
http://nciia.org/LLP
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LaunchPad Central Software
Lean Startup
Business Model Canvas
Customer Development Agile Engineering+ +
Evidence-based Curriculum (NSF I-Corps/Lean LaunchPad)
Hypotheses Experiments Data
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LaunchPad Central Software
DataDataData
Lean Startup
Business Model Canvas
Customer Development Agile Engineering+ +
Evidence-based Curriculum (NSF I-Corps/Lean LaunchPad)
Hypotheses Experiments Data
Weekly Progress
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LaunchPad Central Software
DataDataData
Lean Startup
Business Model Canvas
Customer Development Agile Engineering+ +
Evidence-based Curriculum (NSF I-Corps/Lean LaunchPad)
Hypotheses Experiments Data
Weekly Progress Experiment Scorecard+
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LaunchPad Central Software
DataDataData
Lean Startup
Business Model Canvas
Customer Development Agile Engineering+ +
Evidence-based Curriculum (NSF I-Corps/Lean LaunchPad)
Hypotheses Experiments Data
Weekly Progress Experiment Scorecard
Data, Experiments, Trajectory, IRL+ =
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Data on Hypotheses, Pivots, MVPs, Metrics
Evidence and Trajectory
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Cohort Leaderboard
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Customer Interviews
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Hypotheses to Test
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Invalidated Hypotheses
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Weekly Canvas Updates
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Track All Hypotheses
Testing
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Scorecard:9 way Kanban Board
with data
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Advanced Data Mining
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NASA
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NASA/DOD Technology Readiness Level (TRL)
• Formal Way to assess project maturity• Quantify Relative Risks• Data Driven• Adopted by NASA, DOD, FAA, ESA…
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NASA/DOD Technology Readiness: Levels 1 & 2
Basic Technology Research• Basic principles observed• Technology concept formulated
Concept
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NASA/DOD Technology Readiness Levels 3 & 4
Research to prove Feasibility • Experimental proof of concept• Breadboard validation in lab
Research
Concept
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NASA/DOD Technology Readiness Levels 5 & 6
Demo Prototype • Breadboard validation outside the building• System demo in real-world
Research
Concept
Demo
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NASA/DOD Technology Readiness Levels 7, 8, 9
Deployment• System Development• System deployed in real-world
Research
Concept
Demo
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What Can We Do With All This Data?
The Investment Readiness Level
Watch the Video :http://www.youtube.com/watch?v=zjvEanpktEo
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Investment Readiness Level
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Investment Readiness Level
We can do the same for new ventures
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Investment Readiness Level
We can do the same for new ventures
Emphasis is on data
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Investment Readiness Level
• A Formal Way to Quantify Relative Risks• Data Driven• Analog to NASA/DOD
Technology Readiness Level (TRL)
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Investment Readiness: Levels 1 & 2
Hypotheses• Value Proposition summarized• Canvas hypotheses articulated
Hypotheses
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Investment Readiness: Levels 3 & 4
Problem / Solution Fit• Problem Solution fit• Low fidelity MVP
Hypotheses
Problem/Solution
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Investment Readiness: Levels 5 & 6
Validate• Product/Market fit• Right side of canvas
Hypotheses
Problem/Solution
Product/Market fit
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Investment Readiness: Levels 7 & 8
Validate• Left side of canvas
Hypotheses
Problem/Solution
Product/Market fit
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Investment Readiness: Levels 9
Metrics That Matter
Hypotheses
Problem/Solution
Product/Market fit
Left side of the canvas
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Technology Readiness Level
Problem/Solution
Hypotheses
Product/Market Fit
Validate Right side of Canvas
Validate Left side of Canvas
Metrics that Matter
InvestmentReadiness Level
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IRL Deployed …
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“God is not on the side of the big arsenals, but on the side of those who shoot best.”
Voltaire
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For more info Incubator/Accelerator Class http://nciia.org/LLP
www.steveblank.com
@sgblank
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Lesson Learned Presentations Tonight
UCSF Mission BayByers Auditorium
5:30 – 7:30pm
www.steveblank.com
@sgblank
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Watch the Video :http://www.youtube.com/watch?v=zjvEanpktEo